Please tell me how to do this entries in note book.
Record the following transactions in X's journal-
2017
August 1 Commenced business with cash - 13,000.
August 2 Opened a current account with the bank - 8,000.
August 3 Bought goods from Ram and paid by cheque - 1,200.
August 4 Paid Shyam by cheque - 600.
August 6 Deposited into the bank - 500.
August 8 Received commission - 200.
August 10 Bought furniture for cash - 600.
August 15 Cash sales deposited into bank - 630.
August 20 Received cheque from Ramesh - 830.
Discount allowed to Ramesh - 20.
August 23 Withdrew from bank for personal use - 250.
August 31 Paid rent by cheque - 100.
Answers
Answer:
for a journal entry it would be the following:
Cash A/c. Dr. 13,000
To Capital A/c. 13,000
(being capital introduced to business)
Bank A/c. Dr. 8,000
To Cash A/c. 8,000
Purchases A/c. Dr. 1,200
To Bank A/c. 1,200
Shyam A/c. Dr. 600
To Bank A/c. 600
Bank A/c. Dr. 500
To cash A/c. 500
Cash A/c. Dr. 200
To commision A/c. 200
Furniture A/c. Dr. 600
To Cash A/c. 600
Bank A/c. Dr. 630
To sales A/c. 630
Cheque in hand A/c. Dr. 830
Discount allowed A/c. Dr. 20
To Ramesh A/c 850
Drawings A/c. Dr. 250
To Bank A/c. 250
Rent paid A/c. Dr. 100
To Cash A/c. 100
Explanation:
here's your journal entry.. i haven't mentioned the date and narrations hoping that you alreafy knew it.. hope it helps you...